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ANNUAL REPORT 2011
ANNEX I
REMUNERATION COMMITTEE
REMUNERATION COMMITTEE’S STATEMENT
UPON
THE
STATUTORY
BODIES
REMUNERATION POLICY OF IBERSOL, SGPS,
S.A. TO BE SUBMITTED TO THE ANNUAL
GENERAL MEETING THE 13th APRIL 2012
1. According to the competence that is committed
to this Committee by the Shareholders General
Meeting of Ibersol SGPS, SA., under the article 26.º
n º 2 of the Association Articles, this Committee
has the responsibility to determine the statutory
bodies member’s remunerations.
2. Under the applicable statutory terms, the
Remuneration Committee was nominated by the
22nd April 2009 by the Shareholders General
Meeting, being composed by three members, who
are independent members from the management
and supervisory company’s bodies.
3. Complying with II.1.5.2 Recommendation
of Corporate Governance Code of CMVM,
the Remuneration Committee submits to the
appreciation of the General Meeting the following
statement, regarding the guide lines observed by
this Committee over the remunerations of the
Supervisory Bodies and the Board of the General
Meeting, according to the resolution issued in 2009:
a) The Board of the General Meeting’s
remuneration for 2011 was settled in an annual
fixed amount issued twelve moths a year.
b) The Shareholder’s Company ATPS-SGPS, SA,
has rendered management services to the Group,
having received from the affiliated company Ibersol,
Restauração, SA., for the rendered services, the
amount of 756,034,00
€
in 2011. Among the
ATPS - Sociedade Gestora de Participações
Sociais, SA.obligations and under the contract
terms with Ibersol, Restauração, SA. it is included
the obligation of assuring that the Company´s
Board of Director’s members, António Carlos
Vaz Pinto de Sousa e António Alberto Guerra
Leal Teixeira perform their functions without any
further costs for the company. The Company does
not allow, directly, any payment to it’s executive
board of Director´s members. Being ATPS –
Sociedade Gestora de Participações Sociais, SA.
held, in equal shares, by the board of directors
members António Carlos Vaz Pinto de Sousa e
António Alberto Guerra Leal Teixeira, from the
mentioned amount of 756,034,00
€
in 2011, it will
correspond to each one of those board of director’s
members the amount of 378,017,00
€
. The non
executive member of the board obtained an annual
remuneration of 6,000
€
. So, it is not possible to
issue a declaration over the remuneration policy
of the Company’s Board of Director’s members,
namely with the information referred to in 2nd
article number 3 of 28/2009 Law.